IP Fieldwork

IP Fieldwork

By In PractiseBusinessInvesting
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IP Fieldwork episodes

  • Costco UK & Europe Store Opportunity
    We explore our research approach to exploring Costco's store growth opportunity across Europe and the UK. We discuss:
    How the UK is a unique market for warehouse clubs globallyPlanning and building consent in UK and EU vs USWhy COST UK margins are lower than other marketsWhy EMEA growth for Costco is slower than expectedOutlook on potential store count in EU / UK for 2030
    19 min
  • Ashtead & Equipment Rental
    In this audio-only analysis, we explore Ashtead and the equipment rental business. We discuss:
    Evolution in US equipment rental market structure Ashtead's competitive advantageEquipment rental pricingValuation
    20 min
  • IP Podcast: Diploma PLC
    In this episode we explore why we've been studying Diploma PLC, the UK-listed value-added distributor, for the last 12 months. DPLM has compounded EBITA at ~20% for over 20 years and has recently hired a new CEO that is accelerated growth. We discuss the following:
    DPLM's core business model and history under Bruce How Johnny is changing the org structure relative to other holdco serial acquirers Changes in the M&A strategy How we're approaching our research on DPLM for our Enterprise Tier
    19 min
  • Serial Acquirers
    Last month, we visited Stockholm for Redeye's Serial Acquirer event. We met CEOs from Bergman and Beving, Lagercrantz, Röko, and many other Swedish companies that use accretive M&A as their core value driver.
    In this podcast, we explore what we've learned after a few years studying 'serial acquirer' companies. We discuss:
    Different ways of categorising acquirers; from Berkshire to CSU.TO Lessons from the most successful acquirers When it works and when it seems to failKey ingredients for the serial acquirer model
    We discuss companies such as Lifco, Danaher, Berkshire Hathaway, and Diploma.
    31 min
  • Bergman & Beving
    In this audio-only analysis, we explore:
    The complex history of B&B and what Lagercrantz's history can tell us about B&BLuna Group and how to segment B&B as a groupB&B's M&A strategy under the new CEOA valuation framework for B&B
    29 min
  • Amazon.com Structural Advantages vs Traditional Retail
    In this audio-only analysis, we explore Amazon.com's structural advantages including:
    Why there is a negative narrative from investors around Amazon's retail businessAmazon.com distribution structure vs traditional brick-and-mortar retailersStructural cost advantages baked into Amazon's model What cost line items are driving Amazon Retail's operating loss and recent improvement
    35 min

About IP Fieldwork

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IP Fieldwork is a podcast hosted by In Practise, an investment research platform for fundamental investors. This podcast is focused on the art of primary research. How can investors have better…